Extreme Networks, Inc. (NASDAQ:EXTR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Extreme Networks, Inc. (NASDAQ:EXTR) have earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $15.90.

EXTR has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $16.50 price objective on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum boosted their price objective on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 8th.

Insider Activity

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the sale, the chief executive officer now owns 1,448,378 shares of the company’s stock, valued at approximately $21,754,637.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Extreme Networks

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in Extreme Networks by 101.8% during the first quarter. BNP Paribas Financial Markets now owns 437,659 shares of the technology company’s stock worth $5,051,000 after acquiring an additional 220,763 shares in the last quarter. Seven Eight Capital LP boosted its stake in Extreme Networks by 724.8% during the fourth quarter. Seven Eight Capital LP now owns 193,903 shares of the technology company’s stock worth $3,420,000 after acquiring an additional 170,395 shares in the last quarter. Mirador Capital Partners LP boosted its stake in Extreme Networks by 68.1% during the first quarter. Mirador Capital Partners LP now owns 247,008 shares of the technology company’s stock worth $2,850,000 after acquiring an additional 100,075 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Extreme Networks by 297.1% during the second quarter. Harbor Capital Advisors Inc. now owns 80,371 shares of the technology company’s stock worth $1,081,000 after acquiring an additional 60,131 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in Extreme Networks by 11.4% during the fourth quarter. Congress Asset Management Co. MA now owns 1,376,654 shares of the technology company’s stock worth $24,284,000 after acquiring an additional 141,015 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Price Performance

EXTR stock opened at $14.77 on Wednesday. The firm’s 50-day moving average price is $14.42 and its two-hundred day moving average price is $12.75. Extreme Networks has a 12-month low of $10.49 and a 12-month high of $25.51. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -211.00, a PEG ratio of 3.46 and a beta of 1.77. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The firm had revenue of $256.65 million during the quarter, compared to analysts’ expectations of $253.21 million. During the same quarter in the previous year, the firm posted $0.24 EPS. Extreme Networks’s revenue was down 29.5% compared to the same quarter last year. As a group, equities analysts predict that Extreme Networks will post 0.25 earnings per share for the current year.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.